the alliance is actually a defensive structure. it's inen itted to keep costs to keep costs low for all three carmakers. >> ana, we'll leave it there thank you very much for your time >>> in banking news, deutsche shares have hit a fresh low. the german lender acknowledged it processed payments for danske bank in estonia. 1$1515$150 billion was said to passed through a large u.bank wt a u.s. subsidiary. >>> and societe generale has agreed to pay 1$1.4 billion to settle cases in the u.s. the bulk will be for u.s. sanctions on cuba and other country while another $95 million will settle a separate dispute over anti-money laundering violations. the french bank said the cost of the penalties would be covered by provisions and this would not impact 2018 results. the ceo said the resolutions will allow socgen to close a chapter on these disputes. >>> coming up, we'll bring you the latest from riyadh and the cia report into the murder of jamal khashoggi. >>> welcome back to "street signs. saudi arabia's foreign minister denied that the cr

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chief executive naming an interim c.e.o. a major rift is a merger between the companies and their alliance even the french and japanese finance ministers are meeting over the matter it was an eagerly awaited decision in tokyo and around the world for hours nissan's top executives held consultations with their c.e.o. hero to psychotic then it became clear go on must leave his position as chairman of the. site is expected to be his temporary successor. carstone has plans from the plush surroundings of his executive suite to a spartan cell behind the walls of this tokyo jail rumors that management was behind his fall from grace spread like wildfire. it's a source of coup de tat by nissan those who didn't like him tonight for him internally to make him full. carlos ghosn is one of the most successful also company bosses of all time in one thousand nine hundred six he began restructuring struggling french carmaker ran zero three years later he engineered the alliance with nissan he soon had this company back on the road to success as well but a no holds a forty three percent stake in nissen giv

going was the absolute lynchpin of this alliance is the kind of ideal they have also man some people have called him so it's spent his average month one week in france one week in japan then two weeks anywhere in between so he was clearly trying to bring together a global alliance now with him removed it's like removing the lynch pin which holds these companies together which then brings many analysts to question whether they're going to move towards closer integration such as some analysts were speculating a merger was on the cards or begin to kind of go their own separate ways and that would raise rather large questions for the actual future strategy of each three of these companies so plenty more to watch in the weeks ahead andrea spicer in london many thanks thank you. i think of high tech startups and you might think of silicon alley in the u.s. or china where the tech scene is flush with cash but you're also both success stories like spotify or skype the market there is fragmented however and member states vary in terms of digital investment so can the e.u. create a single digi

now both sides say that they want the profitable alliance to continue but obviously they face a lot of challenges maybe you can tell us about the. well the most the biggest challenge as some wise is the question about the equality between the different groups so we know that. this one makes around about sixty percent more cars than what then does renault its partner bought renault holds forty three percent of control in sound so it means that iran i was the stronger controlling partner despite being in a weaker position there's also kind of questions about japanese corporate governance at stake here so japan has been through a kind of larger reform of corporate governance in the last few years this is boortz into the prospect that logic companies could from external companies could have a stake in the japanese economy and perhaps this is an example of some of these anxieties being expressed through this particular tussle obviously a lot of national interest at stake here two well known car companies with big histories where would this alliance be or would this alliance be where it is t

where would this alliance be, or would this alliance be where it is today without him considering these complications? >> he was the linchpin of this alliance. he would spend his average month one week in france, one in japan, then two weeks anywhere in between, so he was clearly trying to bring together a global alliance. with him removed, it is like removing the linchpin which holds these companies together, which then brings many analysts to question if they are going to move towards closer integration, which some analysts were speculating there was a merger in the cards, or begin to go their separate ways, and that would raise large questions for the future strategy of each of these companies. >> plenty to watch in the weeks ahead. many thanks. >> thank you. >> we go back to sarah now for some sports. sarah: chess is kind of a sport. i think it is fair to say. the world championship of chess enthralling fans because the defending champion and his challenger remain in a deadlock after nine matches with attempt game ongoing. the title battle has seen a surge in popularity for the spor

it is an alliance that hangs in the ballots. the world's largest in the auto industry. the partnership a renault, nissan, mitsubishi was run by carlos ghosn. says they in specie will be removing him as chairman. renault, which has a 15% share in the company says an interim leader needs to be nominated. ghosn remains in custody. >> he is no longer in position to run the group that we will not ask whether formal departure of mr. ghosn from the board for a simple reason that we have no proof. we upon by the rule of law. larger-than-life figure in the auto industry, ghosn has been credited with bringing the sun back from the brink. he is accused of misusing company funds and underreporting his earnings by tens of millions of euros. stopped for all three automakers tumbled. the japanese government said it was focusing on the future of the alliance and bracing for an economic fallout. we recognize regardless of this arrest, it's important than the-renault, mitsubishi alliance must remain stable. as for the future of the allianance, we hope thisis wille discussed conructively

this week over allegations of financial misconduct what is next for the japanese carmaker and its alliance with france's were no. i'm sorry kelly welcome to the program. british prime minister theresa may has been facing heavy criticism from lawmakers skeptical about a draft agreement on post brags that relations with brussels may has defended it as a good deal for the u.k. but she admits that this is a critical moment for the negotiations disputes over fishing rights travolta and the border between the u.k. and ireland are still to be resolved and with e.u. leaders hoping to sign off on bragg's it during a summit on sunday the clock is ticking. they're not exactly celebrating but e.u. leaders including chief breaks it negotiators join me chopin a have at least one reason to be cheerful the draft agreement on the u.k.'s withdrawal from the bloc should be signed off at a summit in brussels on sunday. british prime minister to resume a told parliament in london was a good deal for britain. it honors the coach of the british people by taking back control of our borders models and our money wh

the alliance will have a hard time deepening. will have a hard time improving positions until this case is resolved. betting it would dissolve completely. so far, we have not seen that reflected in the share price. nejra: thank you so much for joining us. send aernment may response to the eu after the block rejected the 2019 budget. spending will be monitored to guarantee the deficit to gdp ratio is respected. be excessive.to we are looking at a handle on the spread. earlier, we were talking about investors underpricing potentially positive outcomes. investors underpricing a bad income when it comes to italy? >> you can look at it in a number of ways. yield, unchanged spanish and portuguese bonds. there is a premium priced into the tiny and bond market. the important part is the premium stays stable and moves materially higher. then we get into a situation where investors start to question the ability of the country to finance itself. the type of conversations we are getting between the italian government and are important in ter

they're forming informal alliances. they're not waiting for the traditional alliances to do things to fight particular issues. >> you mean on twitter? >> not just on twitter. it's the way in which they act. it's the way they organize their lives. they are not waiting for a hierarchal structure or have gray hair to be able to do something. >> they're organizing now? >> they're organizing around themes and ideas, both on-line and off-line. i think those kinds of alliances are going to make a difference to the way we think about whether we're talking about cbe or talking about other things. so that is what i -- i actually really think we ought to as government spend some time thinking about what that actually means. >> i'm about to loop les in. before i do that, one of the things general hayden talks about in sis idea that the social media era is pushing all of us to our edges, right? we're all getting more extreme because we're circling ourselves with people that think like we do or more aggressive like we do and being pu

few months you've seen volkswagen and ford have talks about forming an alliance. you've had honda and g.m. formally come out and say they're going to work together and honda has committed to putting significant investment into cruise. so this idea of the investment to bring electric vehicles to market, sort of navigate the future of car sharing and mobility, all of that is going to cost a lot of money. we're seeing a lot of companies join together rather than split up. so this would absolutely be problematic if the alliance does have some real problems. like how it -- they did come out and say during the press conference as critical as he was of some elements of the alliance he said there was not going to be an impact and did sort of acknowledge that the value of this alliance. so we're a ways from this alliance really crumbling but certainly this is a serious blow for them to lose a guy like ghosn. >> just quickly what are we watching for next? we know that mitts -- mitsubishi is conducting its own look into whether misconduct occurred in that company as well. th

what is the future of the alliance?tay together if the top , the orchestrator of that alliance is gone? it would be hard for nissan to back out of the alliance at this point. there is too much going on for .uture technology in a lot of ways, they need each other to get back to tell. what will be the difference between the alliance and the merger? >> the french want to keep control. they definitely do not want the french controlling. have votinges not rights. the french government has control. nissan profits for half of the other profit. forward, it is not out of the question that nissan could break from the alliance. could they survive on their own in this disruptive world? off, nissan were to back they would have defined an alternate partner because we are already seeing this alignment taking place. announcing more and more projects with gm for external companies. it would be very tricky for tosan and renault to try find a path forward. thehat does this mean for third partner, mitsubishi? the alliance is important, but

that most people have heard of is the five alliance. >> what is that? >> it is a quasi formal i would say alliance of great britain, the u.s., canada, australia, and new zealand. it's frankly a somewhat odd collection of countries that has been in existence for long enough that when it was first created it made sense. >> it made sense because those were convenient places to collect intelligence. >> and close allies with whom you would feel comfortable sharing. the concern about how an alliance like that operates in a post-truth environment and, frankly, for other intel alliances, is that the idea of sharing intelligence has sort of embedded in it a high degree of trust that -- >> trust in what? >> trust that what you are being provided with from the other intel service is accurate, it's reliable, it's truthful. >> the concern is this new world that people won't be able to rely on us? >> they can't rely on us and to the extent that this, you know, goes over into how others approach the intel function, we can't rely on them. you can't get behind the intel

anna: what does this mean for the world's largest auto alliance? is the alliance in doubt?any have said it has been held together by this man. itsit is not even in distribution of benefits. >> in terms of industry impact, that is where the questions are centering. whether this can survive without him. he put it together in the first place. when you think about his role in a lying renault with nissan, he is the only individual capable of answering every question about that alliance. he is the authority that can mediate among three very strong automakers that have their own very strong traditions and interests in such an alliance. it would be very difficult to replace a person like that. at the same time, the commercial logic for this alliance remains. we are looking at a global onustry that is running alliance is now. a lot of the biggest carmakers are reaching out to their rivals to form alliances in order to get ahead of the curve in the technological battle for things like autonomous driving, electric vehicles. it is a very competitive atmosphere where these alliances are

they arrest the head of the alliance. well with go and talk of a merger is certainly gone and while it's not quite as easy as just getting in the rest japanese prosecutors. wouldn't hold him for this long if they were on at least looking very deep into this but a couple of things do look somewhat suspicious first of all all of this misconduct hasn't been noticed for so many years very very very strange second of all when the news came out and even before that it was an internal investigation for months but no really seemed very surprised about all this when the news came out or the allegations came out on monday also. and then we have the c.e.o. of nissan handpicked successor from going himself and he's really gone ballistic on the legacy of dollars really not had anything good to say about him speaking about too much authority and one person and speaking about the dark side of the golden era so all of that does seem a little bit like power play and in the meat that the french are trying to portray the picture of peaceful

of this huge global alliance that sold ten point six million cars in the past year. and he's considered to be critical in unlocking more of that value so what do investors think is the best way forward now for this global alliance to call it was going as been heading for two decades. so number one is of course to clear up all the question marks so what has really happened and who knew there were more people involved and the second is to keep that alliance stable that exists because that pure size is a market power and that's needed to share the costs of research and development in a time of electrification of more time in the cars and in the time we're work companies like apple and google are also looking into the car market and trying to steal out their share. holders to britain from first thank you. and staying with the automotive sector the trump administration has invited the heads of germany's three largest car makers to the white house meeting with the chief executives of fox wagon b.m.w. and dimer could take place soon as next week president has repeatedly thr

what about that alliance now?hink the future will hold particularly between renault and nissan? well, it is in the french government's interest to hold it together. injapan, ithink the renault link was considered to bea the renault link was considered to be a benefit, it now may have passed its useful sort of life, so to speak. so there may be some people injapan thinking speak. so there may be some people in japan thinking that speak. so there may be some people injapan thinking that it may be a time to sort of realign that particular arrangement. but for now, it has to be status quo until at least things settle. but in terms of share prices, and so on, it is going to bea share prices, and so on, it is going to be a rocky period from now for quite sometime. thank you. let's go to the us now, where the nation prepares to celebrate thanksgiving and the start of the holiday shopping season. the strength of the us economy means consumers are expected to spend more this year. but with a big shift in how people shop, t

combs would pursue a deeper alliance, a merger.onths there was speculation that were not happen so quickly. a lot of tension within the alliance because nissan contributes a lot more profitability compared to renault. renault holds a much larger state in nissan than the other way around. you can imagine that within the company's there are differing views as to how they should pan out in the future. one option would be to totally unravel the alliance, another would be to pursue a deeper merger. my bet would be that nothing much happens, while some of these questions about mr. ghosn's behavior are answered. alix: the underlying issue is how difficult it is to be a european automaker. how they compete with the likes of other car companies? brooke: having that combination gives you the scale and leverage to spread these investments, especially when you look at electric vehicles and autonomous driving. just one data point i did have to bring up on mr. jones pay. pay. mr. ghosn's he gets it from three different companies. that was about

askedstions are being about how the alliance can be maintained without them.itsubishi has called a board meeting for next week to discuss his position. in the u.s., supreme court justice john roberts lashed out at donald trump after the president slammed a ruling g on his hard-line migrant policy by what he called an obama judge. our washington correspondent philip crowther has the details. andhis highly unusual unprecedented back and forth between a u.s. president and a chief justice of the u u.s. supreme court began on tuesday. that is when donald trump criticized the judge whoho had stoppeped his newest asasylum py . that was a policy that was suppososed to block asylum reququests foror illegal immigrs crossing intnto the united s sts from mexico. donald trump called that judge on the ninth circuit court in san francisco and obama judge. the reaction from john roberts, the chief justice on the supreme court, came on an official statement from the u.s. supreme court saying that there was an independent judiciary in the united states. the response to that fro

anna: it is interesting how the of what thisful does to the alliance, and they have been saying the alliancet remains unchanged. they clearly want to make out that the alliance is bigger than one man. >> yeah, absolutely. i think both sides, including the french and japanese governments have repeated they wanted to keep the alliance consolidated. was has changed is laguna pushing for a deeper partnership according to people familiar with the matter. they wanted to unveil this in february. this means this is put on hold for now. although, everything -- everybody is saying, they loved the alliance and it generated synergies and were very intertwined and both companies may car parts for each other. anna: this is a period with the car industry is under a lot of pressure with trade tensions. theses one of the reasons alliances matter so much. >> absolutely. sales are key right now and then industry and automakers are rushing to make more zero emission, electric cars, investing in autonomous driving, and facing rivals like google and apple where they are investing millions and autonomous driving.

we'll be alliance global alliance really so much so that the french president and the new other. sets of inside the french government as a shareholder and renault would have a very vigilant eye on the stability of this this alliance on top of that for a nissan and it's a vishy comes at a very bad time for the brands they're still struggling to recover from the faulty data. being reported on their emissions and also the final testing in their cars that surface last year so still struggling here very bad timing for those companies focused in with the phone thank you. so well this weekend's summit of the asia pacific ignore economic cooperation and pup a new guinea was marked by dispute united states and china. a squared off over trade security and who would be the better investment partner for the region u.s. vice president mike pence walked to beijing's regional ambitions while china ping hit out at trump's america first protectionist agenda as apec approaches its thirtieth anniversary the failure to agree on a communique for the first time in its history calls into question its r

the french company renault, both the japanese and french governments say they strongly support the allianceand this video is trending on bbc.com. this is gymnast ashley watson setting a new world record forjumping between horizontal bars. he made it across a 5.87 metre gap. it took him eight goes to perfect the move. that's all. stay with bbc world news. our top uk story: after a review into the manchester arena terror attack, mi5 accepts it made a mistake in not tracking the bomber. now on bbc news, live to singapore for asia business report. carlos ghosn gone from carlos ghosn. the japanese carmaker oust its chairman after nearly two decades at the helm after allegations of financial disk —— misconduct. right for the whole of uk. theresa may hails the draft agreement for the brexit proposals for the eu. the british pound games. —— gains. it is friday, the weekend just around the corner. good morning asia, hello world. glad you could join us. we start off the programme with nissan and carlos ghosn and the decision may have taken longer than expect it, but the carmaker ‘s board officially f

at this moment, i have more faith in a transatlantic alliance than i do in a european alliance. all of the countries in europe are divided. until europe can work together, we cannot unite and this is very important. [applause] mr. o'sullivan: i would like to come back to all of those points quickly. we are talking about a lasting legacy. let's break it down into economics, religion, we are talking about the book as well as reagan today, and politics. let's talk about religion first in a way. no one on the panel here is a theologian. at the end of his life, the pope was the best -- depressed because europe had not revived the belief in christianity in europe as he had hoped once communism was gone. in fact, one could argue eastern and central europe had been infected by the decrypted miss of the west rather than enjoying the prosperity. the first question i would like to put to all three of you is, is the disappointment understandable and how should we respond to it? he felt christianity was decaying faster rather than it had before. maybe christianity had been stunted by the opp

-- nissan alliance?ybe this is kaput, but the take i have gone it is what mr. ghosn was trying to achieve was a merger of equals. on the renault side they may be saying, we own 43%, we are not far from -- we have the larger stake not far from a majority. maybe we need to be more assertive in our management of nissan. yvonne: given how lopsided against the ownership structure was with his alliance, do you think it could be positive for nissan to break away from it? he could actually release value for many investors now? well, the one complaint many have had about the alliance is the synergies have been small and a lot of this has come from trying to get the agreement of both sides before to do any action. i think there are some who will ask the question if there is a more comprehensive joining of these two companies, can you achieve more? the technological change we are seeing in the industry, you need size and given that nissan breaking away may onlyle entity create short-term gain. rishaad: mitsubishi c

the french government -- alliance. the french government also said they did not see this action of ghosn as an act to destabilize the alliance. that was one of the main points of speculation that the ceo did this coup to unwind and the efforts at carlos ghosn was trying to do to make a merger between renault and nissan more final. the french government, which owns a 50% stake in the known -- renault, think this was more on a legal basis than destabilizing the alliance. nissan wants a more equitable order ship with its french partner. haidi: more of a bargaining chip at the table. of the alliance but this changes the balance of power we have. steve: the balance of power still is in the hands of the french because the french government has a very significant 15% stake in renault and renault has a 43 -- 43% stake in nissan with voting rights. nissan has a 50% nonvoting stake in renault. the ceo has increasingly pointed unfavorable to nissan and perhaps that is where the risk started growing between him and carlos ghosn as

daimler is the unforgotten child in this alliance. stephen: they like the alliance going forward.thing for daimler. they make small vehicles as well as delivery vans. they could have a say in the alliance. . we haven't confirmed yet whether they will participate. but they would like to see the alliance go forward in its theynt form, as renault would like to see it in its current form. is nissan that would like to see saying just -- see changes. arece could put forward tired of -- a toyota top executive as a meteor it between the japanese and the french. he is respected on both sides as a car industry veteran. he is a player we could be hearing from in the future. stephen engle with the latest trials entry below shins between mitsubishi, nissan, and renault. other things automotive, the ride hailer we will be talking about. yvonne: that is it for us on bloomberg markets asia. bloomberg markets middle east is next. this is bloomberg. ♪ ♪ emily: i am emily chang in san francisco. this is bloomberg technology. on gm'st trump attacks plan to close plants and cut jobs. plus, samsung's p

three years later he engineered the alliance with. he soon had this company back on the road to success as well. holds a forty three percent stake in the sand giving the french a lot of power in the company through to even appointing minister on board. the japanese company has only a fifteen percent stake in reno leaving it with no effective vote or power over its french partner. it's reported that goldman's arrest came as he was trying to put together a complete amalgamation of nisson and renault apparently the plans were almost ready but a total merger would have cemented in a sense position as the weaker partner even though the company is performing better than renault journalists caught up with mr and c.e.o. in front of his house they were eager to hear if in fact gone had been working on a total run owner's son tired before he was arrested. no i haven't heard that. japan's government was quick to quash fears of a run on a sun alliance collapse. what's important for now is to ensure the alliance between renault one remained stable

you think about the alliance ghosn put together.f the things that has backed up on him in this case -- he is getting paid by all of these entities and it must be hard to keep track of all of that. alix: that is so hard. jason: not to keep track of the money but keep track of the activity. more the investors trying to figure out how this fit together and whether this alliance is able to go forward. robert: part of this will fall apart i suspect as people sort through this and realize it is not easy to keep track of and does not make a lot of sense. there are conflicts along the way. some of this has to come undone. alix: hard to keep track of? disk on account -- just call and accountant jason:. jason:you are going hard on this one. alix: you have people with multiple jobs who can file tax returns. jason: it feels like there's a lot of drama. alix: it feels like it is a blank check. we love you until we don't. jason: and then under the bus. let's talk about ray dalio. we did hear about this pivotal moment back in the 1980's, where bri

was the glue to the alliance.ahead to the board meeting with nissan on thursday as well. what is the latest thing we need to watch out for? thereith the departure, is an issue of corporate governance. how can we actually trust as an investor, this company to run a tightly run ship? that is an interesting question. we had nissan having a seven-month long investigation into carlos. they came up with the findings of many different financial improprieties that they handed off to tokyo prosecutors. i assume as they are still detaining carlos, they are further investigating themselves . perhaps in the future, levy some chargers. we are also hearing from media reports that it is opening got a whole different pandora's box. whole different pandora's box. it may not just be against carlos and great kelly, the board director. it could be against nissan itself. nissan has had a number of different controversies, a emissions scandal with other automakers, as well as having unlicensed inspectors sign off on new cars earlier th

do we know how much the nissan alliance had to do with this?ng the french company have the best of this relationship. david: i think that is the case. if you look at the alliance as a whole, it essentially breaks at nissan. about half of the net profits in every one of the past seven or eight years has actually come from the share of nissan's earnings. productivity per worker, higher at nissan. nissan has great positions in keep markets like the u.s. and china, where it folks -- focuses on areas like latin america and russia that do not perform so well. share andhave the 43% nissan which means it can control nissan and the french state has a 15% share of reno which means in some sense the whole alliance is being controlled or has a veto. that has caused great tension. i think we have seen in recent has try to meld this into some sort of form of merger or long term structure that can survive his retirement, he turned 55 in a few months, we have seen from nissan, anonymous comments to the japanese media at thee great discomfort idea they could me

to do again what's important for now is to ensure the alliance because you know nissan remain stable and. carlo's career appears to be collapsing however he is suspected of underreporting his income by several million euros over a five year period as well as misusing company assets for personal gain could face up to ten years in jail if he's found guilty. for more on the story let's bring in our he's a professor of strategic management management at warwick business school in the u.k. and a commentator on the car industry program christian we've seen that this is a very complex alliance with the much smaller renato having a big say the much larger nissan do you think it's possible that mr gone down fall is politically motivated to shift the division of power in favor of the japanese. well at the moment this is pure speculation but it's possibly what i do think would be surprising if executives. haven't known about these dealings and their arrangements for yes you know if not too long ago the whole big false wild story of in the beginning it was always an attempt to claim intern a few

this is g w business model for us and we started japan where the chairman of the alliance of nisson rameau and mitsubishi motors carlos dawn has been arrested on suspicion of under reporting his income and engaging in what the company calls other significant misconduct speaking earlier this afternoon ison c.e.o. said he had called for a board meeting for thursday to approve goans dismissal as chairman of the company on suspicion of understating his salary in japan by forty four million dollars over five years from twenty eleven on words before now gone was seen as a star karma credited with leading a dramatic turnaround over the last two decades rescuing is from near bankruptcy. carlos ghosn is regarded as one of the most dazzling managers in the automotive business after all he has the partnership of redeye mitsubishi and new son and his belt. but he's been under investigation for months now. the japanese can make a new son says an internal investigation shows going under reported his income for several years. and is also said to have used company money privately. board of directors now n

according to these sources, nissan has evidence of potential wrong doing at the alliance. so even though we are hearing calls of support from the french government and from renault in terms of assuring stability of this alliance, it may not be as simple as that >> let me ask you a question which is a broader longer-term picture about this story i say this in context to the fact that peugeot, a great rival of renault but similar in many ways about its heritage pays at a premium to this stock and the stock is up 15.6% year-to-date, which as opposed to renault is down 23.2% year-to-date. we talked about the personality and dominant force carlos ghosn is did he make that much of a difference to the company? how does has the company been under carlos ghosn >> so renault in terms of its share price has been suffering from this whole discount because of the way this structure is created around the alliance. so the investment community has been pushing for change in terms of the structure of that alliance some investors have been pushing for a former merger of the renault and niss

to do again what's important for now is to ensure the alliance between nissan remained stable and. carlo's career appears to be collapsing however he is suspected of underreporting his income by several million euros over a five year period as well as misusing company assets for personal gain could face up to ten years in jail if he's found guilty for more on the story let's bring in larry he's a professor of strategic management management at warwick business school in the u.k. and a commentator on the car industry program question we've seen that this is a very complex alliance with the much smaller rental having a big say the much larger nissan if you think it's possible that mr golems downfall is politically motivated to shift the division of power in favor of the japanese. well at the moment this is pure speculation but it's possibly what i do think would be surprising if executives in the sun haven't known about these dealings and their arrangements for years you have you thought too long to go the whole big folks walking story even the beginning it was always an attempt to c

this week over allegations of financial misconduct what's next for the japanese carmaker and its alliance with france's a brain don't. you. i'm serious i was gonna thank you for joining us another step towards bragg's it here peon council president donald tusk says the e.u. and britain's government have agreed on a declaration on the two sides relationship after the u.k. leaves the block it comes a day after british prime minister theresa may and commission president. held talks on that declaration it will now be reviewed by representatives of the remaining twenty seven e.u. countries ahead of a weakened summit at which the leaders hope to sign off on the declaration and on the bread's the treaty itself. now a short while ago theresa may delivered a brief statement at ten downing street let's listen. right to deal for the u.k. it delivers on the vote of the referendum it brings back control of our borders our money and our laws and it does so while protecting jobs protecting our security and protecting the integrity of the united kingdom. the agreement we've reached is between the u.k. an

hours after his sacking, france and japan expressed support for the alliance.'s most powerful business leaders. as well as his former role as leader of nissan, the chairman of renault, mitsubishi motors, and chairman and executive of an alliance of all three that collectively made 10 million cars last year. so far renault had not dismissed him, installing another executive on an interim basis, while mitsubishi motors‘ board are considering his role. the future of the whole alliance has been questioned after the downfall of its main architect and behind carlos ghosn‘s own personal drama lies a powerplay between a group. it is no secret that senior executives at nissan felt that carlos ghosn and renault were exerting too much control over a group in which nissan was so control over a group in which nissan was so in the most cars. carlos ghosn reset the structure and leadership of an alliance that all parties seem to agree is too important to see boulevard. it may yet to be the last legacy for a fall in business giant who remains in custody. simonjack, in business

how worried are you bought the alliance at the moment -- worried are you about the alliance at the momentorried about it at all. it is business as usual. the alliance is intact and the direction from the mothership in japan and direction here in the united states stays focus on business at hand. fred, when you talk about doing business as usual, i want to talk about your car lineup. specifically where the mitsubishi brand is headed in the united states. and, if there are any plans to expand into more fuel-efficient vehicles. primarily electric vehicles. >> yes, the vehicle you see behind me is a prototype and is a concept vehicle. this is the design inspiration for where mitsubishi is going in the future. as well as the loaded technologies this vehicle has which will be a part of our future when the alliance lifeforms and synergies kick into gear. show up in the united states within a two to three-year time frame. we are excited about what consumers will have because every product we bring forward will have an electric vacation platform -- electrification platform as part of that vehicle.

the other uphill battle that you're facing is that many in south africa view the democratic alliance the day as kind of the successors of former apartheid rulers the perception is that the da is is for affluent white south africans is it not think that's a propaganda always given by liberation movements. people never believed that the da would be a party that governs a city like johannesburg which is a cosmopolitan city and when we came in there we campaign we demonstrated to the people of south africa that we're the only party that can bring also the africans together and it's a project that very few parties in the world are doing we're the ones that are doing it and we demonstrated that where we now govern life is improving force of africans so for us when we look at where we stand as a party we are all across all races all different religions different cultures and that's the vision that nelson mandela would have stood for and that is a vision that we still hold and therefore i'm comfortable to learn that we will show to the people of this country that that's the future they are l

this week over allegations of financial misconduct what's next for the japanese carmaker and its alliance with france those who know. and an important anniversary for lovers of pop music everywhere. see you on a red. sack lead fifty years ago today the beatles released their white album some call it the best album ever will find out how the fab four went about making it. blasts say in the chess world the world championship is going down to the wire defending champion magnus carlsen face. sing a tough test against challenger fabiano caruana. your. heart thanks so much for your company everyone while we start with the u.k. that country's prime minister to resign may has been facing heavy opposition in parliament after delivering a statement on a draft deal agreed with the european union on the two sides relationship after the u.k. leaves the block on speaking in the house of commons some time ago when may said it was a good deal for both for britain and for the european union but opposition labor leader jeremy corcoran tore into the deal saying nothing had been agreed and described as a quo

carlos shifting that alliance between nissan. it is a holiday in japan and in india. and there was a holiday in the u.s.. david: which is why we are trading 40% lighter in volumes. we don't have trading in the treasury market as well. hang seng is looking like it will open 70 points down. with 10 seconds into the open, not any data. yvonne: you know how you eat turkey and you want to pass out? that is kind of what is happening with the markets. take a look at how the china market is opening. pointing lower when it comes to the hang seng. shares down about 35 points. futures positive. losses about a fifth of 1%. not doing a lot in general. asian stocks in general are poised for a third week of losses. take a look. earnings out. was not pretty. net loss that was three times larger. we were talking about this fight between alibaba and tencent. food delivery is showing through these numbers. down within 10%. spending those losses in the premarket as well. we have been talking a lot about these chip stocks. a lot of weakness. concerns

. >>> bruno lemaire has promised the government will continue to support the alliance between nissan and renault, but the french government would also like to know more detail about the allegations he faces >> we don't have extra information about the charges against carlos ghosn we have asked to have access to this information because it's important. i say again as long as we do not dispose of supplementary information there is an essential principal in a democratic state the respect of the presumption of innocence as long as we don't have supplementary proof on the contrary, we had a long exchange with the japanese economy minister about the situation with renault and nissan as an enterprise, what is important for both of us is the preservation and strengthening of the alliance between renault and nissan >> that was the french finance minister weighing in on the situation. i'm pleased to be joined by mattias holberg from the university of oxford i want to ask you, if ghosn goes complete completely, is it inevitable we see a fracturing of this alliance >> good morning. no, i don't t

indeed the alliance will survive because all three companies can't survive without it.of projects on which all of their... most of their future models really dependent. last year they proposed most of the platforms would be shared between the three companies, the our train, would be shared between the three companies, the ourtrain, the technology for electricity and, for automated driving, for connected cars. these projects are the —— our train. how do you come up with an effectively do ship structure? in the trenches, people have been working on these projects which hold the future in their hands for many yea rs. the future in their hands for many years. before the arrest of carlos ghosn, there were reports he was planning a merger between renault and nissan, which was opposed by the nissan board. do you think this will still materialise even without carlos ghosn? from nissan's point of view, they can achieve all the goals of the alliance without a full—fledged merger, so alliance without a full—fledged merger, so that coupled with the fa ct merger, so that coupled wit

the alliance was very peculiar. we are all very by it because not only with houthis adversaries and fiercest of the news that also the former president had actually killed the leader of the houthi movement. at that point both of them were really seasoned fighters. the houthis are definitely one of the fiercest fighters in yemen, and no one was able to stop their influence inside yemen. they have threatened political parties. they overthrew the government of yemen completes entire cabinet under house arrest and ultimately in 2014 and september they took large amounts of land, the capital, the seaport on the west coast. it's ties under siege. seeing a lot of fights in the south and it was really a brutal warfare. just to put things in perspective, within six months of the houthis alliance that took place, about 7000 people died, and this was long before saudi-led coalition intervened. these statistics are local statistics from credible organization in yemen and usually immediate as a report on them. not because of lac

in this alliance, there is very little in the way of real structure for the alliance itself. kind of these corporate cross holdings, which are murky. ghosn sits on top of the whole thing. jason: he was the structure. carol: that is exactly where i was going to go. you spoke with an analyst who said this alliance is heavily bound up in the personality that is ghosn. but this guy put together this partnership and made it work, to make it something significant. now he is not going to be there. i am curious about where it goes at a time when the global auto world is changing and being by electric vehicles in different models. david: the ceo of nissan is kind of trying to rewrite the script. at his press conference on monday, he said, this alliance is bigger than one person. that was due to the without specifically naming ghosn, he basically said, it is not just carlos ghosn. jason: we put the story to bed as events were unfolding. head to businessweek.com for the latest updates. carol: from cars to confessions, this week's u.s. cover story has to do with the confession of judgmen

is a strong alliance. and it is getting stronger. my next trip was down to cancun, where i met with the latin american, south america, central america, mexico ministers of defense. i look back on 2017, i thought it was a pretty crummy year for democracy around the world. not so in south america. not so in central america. not so in mexico. imperfect, it may be, full of economic head winds, clearly the american appetite for drugs and european, is dumping a lot of money in that corrodes their institutions, but democracy is alive and well. they are holding elections. they don't know who is going to win. that is the way it should be in a democracy. and it is going to well down there. first time i heard my position described as being minister. you will love this, president nancy. minister of peace. not minister of defense. but, and then i just got back, from, went out to singapore, met with aujian, two weeks ago, where we are welcomed, where many nations in private will tell us why they need us engaged out there, because they're concerned